Public warned vs investing in 4 firms

The Securities and Exchange Commission has warned the public anew against investing in four companies which are believed to be illegally sourcing funds from the public.

The four corporations are Five Vision Consultancy Services Inc., Intercontinental Services, Inc., Conrad Group and Associates Inc., and Servlink Cargo Inc.

The warning was issued by the SEC in view of the numerous inquiries and complaints received from the public.

These corporations, the SEC said, are not licensed to engage in any activity as investment consultancy, investment taking, lending activities and trading in securities.

"The public is warned of possible serious misrepresentations by these corporations," the SEC said.

The SEC issues regular advisories regarding investment scams and fraud to increase public awareness.

As the primary regulator of the country’s capital markets, the SEC strictly enforces its rules and regulations to prevent fraudulent acts and similar activities. To date, the commission has issued several cease and desist orders to companies that were involved in illegal securities transactions and caused the closure of boiler room operators that used the country as a base for their illegal activities.

A Scams Hotline was established by the SEC to enable the public to report spurious activities. This has helped the commission track down and stop the operations of pseudo-investment firms. The hotline numbers are 7258260 and 7253418.

SEC said the public should learn to invest wisely since the commission does not have the capacity to oversee and regulate the entire investing public.

With the need to earn extra money becoming increasingly urgent, various investment proposals are dangled before the public, promising big and quick bucks with little or no effort on the investors’ part.